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Delinquencies Fall Further in LPS First-Look August Data

Loan delinquency in the United States continued to drop in the month of August, according to first-look data from ""Lender Processing Services"":http://www.lpsvcs.com/Pages/default.aspx (LPS).

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According to data released Monday, the total delinquency rate (for loans 30 or more days past due but not in foreclosure) was 6.87 percent in August, down 2.3 percent from July. Year-over-year, delinquencies fell 10.6 percent.

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An estimated 3,430,000 properties were 30 days or more past due (but not in foreclosure) at the end of August. Approximately 1,520,000 were 90 or more days delinquent but not in foreclosure.

A total of 5,450,000 properties were 30 or more days overdue or in foreclosure.

The foreclosure pre-sale inventory rate fell 1.0 percent from July, with the number of properties estimated at 2,020,000. Yearly, the inventory rate dropped 2.0 percent. The estimated foreclosure pre-sale inventory rate was 4.04 percent.

Nevada and Florida once again made the list of the top five states with the highest percentage of non-current loans. They were joined by Mississippi, New Jersey, and New York.

The list of states with the lowest percentage of delinquent loans included Montana, Alaska, South Dakota, North Dakota, and Wyoming, all of which consistently rank near the top.

About Author: Tory Barringer

Tory Barringer began his journalism career in early 2011, working as a writer for the University of Texas at Arlington's student newspaper before joining the DS News team in 2012. In addition to contributing to DSNews.com, he is also the online editor for DS News' sister publication, MReport, which focuses on mortgage banking news.
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